"A prominent Canadian economist says Stephane Dion's "Green Shift" carbon tax plan is "a good start" that will leave the general Canadian taxpayer "better off."

"The idea itself is very sensible," Don Drummond, the chief economist at TD Bank, told CTV's Canada AM on Friday.

"There's a growing consensus to do something about emissions. We need to put a price on carbons. This proposes it."

Drummond said that "in most cases" the average Canadian will "be better off" because of income tax breaks and additional federal benefits included in the plan. He also noted that the Liberal plan also addresses a "bizarre situation" on energy taxes.

"We have a fairly stiff tax on gasoline. We have a lower level tax on aviation and diesel. But we have no tax of other pollutants from energy (such as coal). So, it levels the playing field," he said."

"Don Drummond would be well-advised not to give up his day job as TD Financial's chief economist to try his hand at politics.

Mr. Drummond was curious about the regional economic impact of the Conservative government's plan to reduce greenhouse gas emissions to 20% below 2006 levels by 2020, and commissioned a study to investigate. So far, so good.

His mistake was to ask two environmental groups, the David Suzuki Foundation and Pembina Institute, to author the report. It would be fair to say that neither group is particularly well-disposed toward the Conservatives -- in fact, at the last election Mr. Suzuki backed the carbon tax plan put forward by Stephane Dion's Liberals. The loathing is mutual -- one insider called the two organizations "official opponents of the government."

"McKenna didn’t pull any punches when asked what the federal Liberal leader should do about Tory ads that label him “just visiting” and “only in it for himself.” “I think you have to fire back,” he said. “My inclination is to use attack ads when you’re attacked.” As for the sort of adversaries the Liberals are up against in Prime Minister Stephen Harper’s tacticians, McKenna added, “They are dealing with thugs; they’ve got to fight back and fight hard.”

Now, Ed Clark , or "Red Ed" because he once worked for the Trudeau Liberal government,and helped draft the horrible NEP. He was fired shortly after PM Mulroney took office. Thank God for that!

Red Ed Clark has stepped into the political fray by criticizing PM Harper saying that the PM isn't listening regarding reducing the deficit. He said that Canadian CEOs want taxes raised.

"Last week at a conference in Florida, TD Bank CEO Ed Clark said Prime Minister Stephen Harper isn't listening to the overwhelming view of Canadian CEOs that tax increases are the best way to reduce a record deficit.

He told the conference that almost every person at a recent meeting of the Canadian Council of Chief Executives said “raise my taxes” to erase it.

Since when do bank executives get political and try to tell what the government what to do? They are supposed to be non-partisan. Especially from someone who crafted the NEP that stole millions of dollars from the west namely Alberta?

Mr. Iffy has come out in defense of Red Ed as recent as today at the Olympics of all places. You can understand why.

This is what Red Ed Clark donated to the Liberal Party, in particular to Michael Ignatieff in 2009.

Click on image for larger image.

Is TD another branch of the Liberal Party? One wonders.

BTW. Happy Famly Day!

Update: (h/t) reader, Ron Conway

"Ron Conway said...

Please add the following donations to the Liberal Pty as per Elections Canada-

Oct 28/2005 - 2000.00 - Liberal Pty Can

Jan 5/2006 - 2000.00 - Iggy campaign

Jan 6/2006 - 4895.00 - Liberal Pty Can

Oct 18/2006 - 2000.00 - Bob Rae campaign

May 11/2007 - 956.56 - Liberal mPty Can

Adding up the 2200.00 for Iggy & Rae he has donated over $13,000.00 to the Liberal Party of Canada in the past 5 years. Let not this man be called an ordinary Canadian- He is a very large supporter of the Liberal Party of Canada and their policies."

15 comments:

Please add the following donations to the Liberal Pty as per Elections Canada-

Oct 28/2005 - 2000.00 - Liberal Pty Can

Jan 5/2006 - 2000.00 - Iggy campaign

Jan 6/2006 - 4895.00 - Liberal Pty Can

Oct 18/2006 - 2000.00 - Bob Rae campaign

May 11/2007 - 956.56 - Liberal mPty Can

Adding up the 2200.00 for Iggy & Rae he has donated over $13,000.00 to the Liberal Party of Canada in the past 5 years. Let not this man be called an ordinary Canadian- He is a very large supporter of the Liberal Party of Canada and their policies.

My business and rrsp's have been with TD for the last 15 years. I am sick of their high bank fees for crappy service from old, rude, b1tches! I will be pulling out all money in the next 2 weeks. Can anyone recomend a bank with a business overdraft that is PC?

Tip for those moving their investments. Don't cash them in, move them to another bank. Check to see what tax implications are if you cash them in, capital gains, tax withheld. Check with your new bank to see the best way to do it.

McKenna, the Vice Chairman, called the Conservatives "thugs" and during Dions time hosted a reception for him with the business community.Conservatives should consider not doing business with this partisan bank.